09-12-2008, 08:17 PM
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#1 (permalink)
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Banned
Join Date: Feb 2006
Posts: 6,656
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Bills introduced in Congress: $7500 PHEV credit, E85 pumps mandated, and more
Bills introduced to mandate E85 pumps, cut oil tax breaks, $7,500 PHEV credit
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Because Detroit's Big Three have sub-investment grade credit ratings, they pay double-digit interest rates to borrow money. Under the bill they would get to borrow money at the lowest government rate, between 4 percent and 5 percent, and would save more than $100 million per $1 billion borrowed. The government could also opt to defer repayment of the loans for up to five years....
The bill includes tax credits of up to $7,500 per plug-in electric vehicle, a move that GM says is essential to helping defray the cost of new vehicles like the rechargeable Chevrolet Volt, due out in 2010.
An energy bill introduced by House Democrats Thursday would require all gas stations to add one alternative fuel E85 pump, a fuel of 85 percent ethanol. Currently, less than 2,000 of the nation's 185,000 gas stations have an E85 pump.
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